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Co-op and Britannia launch fixed rates

The Co-operative Bank and Britannia are launching two fixed rate deals with rates starting from 2.95%.

The deals include a two-year fixed rate deal at 2.95% at up to 75% LTV and a five-year fixed rate at 3.99% again up to 75% LTV.

Both products come with a £999 fee and will be available from May 26 through Britannia and the Co-op Bank’s websites and phone lines, or through Britannia’s branches.

The maximum loan size is £1.5m, and remortgage customers also receive a free valuation and conveyancing services.

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  • q1111 14th October 2010 at 3:48 am

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  • Tim Lynch 26th May 2010 at 10:48 am

    Well done to Co-op / Brittania even if it is direct only as others should follow, given that a five year swap is now < 2.5%!

  • Paul 25th May 2010 at 3:55 pm

    Steve1 is correct. If one lender is offering these rates then it stands to reason others will follow. Not all lenders will offer direct deals only and even if there are dual priced deals around there are plenty of people who would rather use a broker than deal themselves. Look at the positives, there are decent rate mortgages entering the market meaning the remortgage business which has been very subdued will begin to spring back into life.

  • steve1 25th May 2010 at 3:39 pm

    Great news, this will be the start of good 5 yr fix rates which the market needs to offer. Others will follow via All sources.

  • mick 25th May 2010 at 3:35 pm

    To be fair – Co-op and Britannia have never been in the IFA market so this is nothing new.

  • Dazed and Confused 25th May 2010 at 2:50 pm

    Do I hear the sounds of yet another nail going into the brokers coffin?

  • Mortgage Broker N3 25th May 2010 at 11:45 am

    the 5 yr fixed rate is astonishing…I may go for that myself!

    Thanks MS

  • Bobby 25th May 2010 at 11:42 am

    A 5 year fixed rate much better than a broker can access and only available direct. Shocker !.